Among mortgage originations exceeding $1 million in April 2023, adjustable-rate mortgages comprised nearly 50% of the dollar volume, representing a six percentage-point increase from a year earlier.
Read More »June Listings Lag, Hampering Home Sales & Shoring Up Prices
Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.
Read More »All-Cash Home Purchases Account for Bigger Slice of Housing Market
According to a new report from Redfin, some 33.4% of U.S. home purchases in April were made in cash, marking the highest share of all-cash home sales since 2014.
Read More »Average Monthly Payment on New Mortgages Reaches $2,317
Due to persistently high home prices, new homebuyers may shell out costly amounts for their mortgage payments, as a new study from LendingTree reveals that the average nationwide payment on a new mortgage has reached $2,317 a month.
Read More »High Prices, Mortgage Rates Pushing Buyers Toward More Affordable Areas
New data from Redfin recently revealed that buyers are seeking out less expensive areas like Tampa and San Antonio due to the surging cost of housing and other goods, limiting their ability to purchase homes in many U.S. cities.
Read More »Mortgage Applications for New Home Purchases Slip in May
New data from the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) for May 2022 shows mortgage applications for new home purchases have decreased an overall 5% in ...
Read More »Angel Oak Works to Expand Western Lending Footprint
The retail lender's expansion continues in key regions as the mortgage market remains steadfast.
Read More »Top-10 States for Home-Equity Loan Searches
Due to economic impact of COVID-19, more Americans are taking out home-equity and other types of loans, according to a new study by WalletHub. "Americans who are having ...
Read More »The Forbearance Chaos is Yet To Come
While millions of borrowers were quickly approved for forbearance on their mortgage loans, what follows could be confusion and chaos, according to some.
Read More »Delaying Forbearance Repayment
The FHFA noted that borrowers in forbearance with a Fannie Mae or Freddie Mac-backed mortgage are not required to repay the missed payments in one lump sum.
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